Top 100 CEO Interviews
Issue No. 33 - February/March 2007
Don‘t knock us - we‘re winning
SA Great's South Australian of the Year, Frances Magill, CEO of Statewide Superannuation Trust had a year to remember in 2006 - and thinks South Australians should take a look at their own record of achievement.
Frances was also a finalist in the Equal Opportunity Workplace Agency (EOWA) national Business Achievement Awards, in the category of Diversity Leader for the Advancement of Women. In addition, Statewide won praise from the EOWA for being an employer of choice for women - one of only seven SA companies to earn such recognition in 2006.
On the business side, increased competition as a result of the super law changes in 2005 seems to have worked in Statewide's favour. The trust increased its assets under management from $1.2 billion to $1.55 billion on the strength of a 16% membership jump and a 27% rise in the number of employers using Statewide to manage their super obligations.
In our own 'in-business' Top 100 SA Companies Index, Statewide rose from 12th place in 2005 to 9th in 2006.
And the fund performed well, posting a 14.16% return on its default investment option.
Since Frances has been at the helm for 16 years, she is well placed to have an opinion on what works and what doesn't for SA business.
Sustainability ranks very highly on Statewide's list of priorities. Frances is sympathetic to environmental concerns and cites the UN principles on sustainability as a useful guide. She looks on growth industries such as the aquaculture business community along the coast very favourably.
“We have seen a 19% increase over the past 12 months in people wanting their money to go to socially responsible investment,” she says.
Another conspicuous trend is that more business bodies are approaching Statewide with lease-back proposals. Businesses in sectors such as childcare and aged care seek to have an investor fund their capital works.
“That releases business capacity to provide the ...
